x Abu Dhabi, UAEWednesday 17 January 2018

Dubai boy wins Dh1million from National Bonds draw

DUBAI // A five-year-old boy who won Dh1 million has already earmarked a portion of it for sweets.

Ebrahim Shaikh claimed the prize money from a February draw that was organised by the National Bonds Corporation. He became eligible when his father Fahimuddin opened a savings account in his name.

Mr Shaikh said that when he received a call from the chief executive of National Bonds, he initially thought it was a prank.

"I was watching the TV and suddenly this person was asking detailed questions about my bond dates, stuff like my personal information," he said. "Then I realised it wasn't just a normal prank call."

Mr Shaikh said that his son's bond savings had risen dramatically from the Dh15,000 he had in place originally. Although the family had to withdraw a portion of the prize money to make ends meet, 80 per cent had been kept in bonds for his future education or career development.

However, young Ebrahim, who claims he wants to be a "bike racer" when he grows up, has a more pressing outlet for the cash.

"I want to buy candy and sweets with it," said Ebrahim, who is an only child.

Originally from Hyderabad, India, the family of three has lived in Sharjah for a decade. Mr Shaikh, 40, called Ebrahim winning the prize their "happiest moment" since arriving.

"It's such a good feeling," he said. "I'm the father of a millionaire."

National Bonds Corporation offers a Shariah-compliant saving scheme whereby individuals can purchase bonds for themselves or minors with a minimum value of Dh100.

The organisation distributes more than 5,000 different cash prizes every month ranging from Dh100 to Dh1 million.

Not only do we make dreams come true with our life-changing one million dirham prize draw, but we also provide a low-risk and no-fee investment opportunity to allow bondholders' capital to grow favorably," said Mohammed Qasim al Ali, the chief executive of National Bonds Corporation.